Pricing
SaltyPay believes in clear and transparent Cost Plus pricing with a guaranteed markup. It’s the only way we do business. No teaser rates. No hidden fees. No terminal leases.
Small business
Small business owners deserve a great rate just like larger companies. At minimum, working with SaltyPay will save you 25% off your current processor’s markup. Accurate savings for your business will be determined after a discovery call and an analysis of a recent merchant statement. We are experts in showing our merchants how to optimize interchange rates for their specific business type.
GIVING: 50% of SaltyPay’s revenue from small business accounts will go back into the community each year.
Non-Profit
Are you a non-profit doing wonderful work on SaltSpring? Or perhaps you are based here but raising money for projects off island? Either way, we’d love to support your efforts! At minimum, working with SaltyPay will save you 25% off your current processor’s markup. Accurate savings for your non-profit will be determined after a discovery call and an analysis of a recent merchant statement. Many non-profits aren’t aware that they are entitled to significantly lower interchange rates for charities. Many non-profits are on a flat rate pricing model that doesn’t pass along these reductions.
GIVING: We’ll give 50% of our revenue right back to your charity as an ongoing donation.
Social Enterprise
SaltyPay was created to serve the Salt Spring community, but with our experience, expertise and large network of payments and technology partners, we are fully capable of doing business with any social enterprise on or off island, whether you are retail, B2B, ecomm or omni-channel. You will receive custom pricing that will reduce your processor’s markup by at least 25%, and you’ll have the chance to supercharge your charitable efforts with a like-minded payments partner.
GIVE BACK: 50% of SaltyPay’s revenue goes to your company’s primary cause.
Want to learn how much you’ll save with SaltyPay?
Pricing FAQs
What is Cost Plus pricing?
Cost Plus is the most transparent form of pricing in the credit card processing industry. It means the hard costs of a transaction (Interchange fees and Assessment fees) are simply passed through to you directly at cost. Then, you pay your processor a fixed markup on total volume (the “plus”). Cost Plus pricing creates a fully transparent relationship between you and your processor, and prevents things like teaser rates and multiple markups. And, unlike our competition, SaltyPay also guarantees the markup. No pricing games during the contract term.
What are Interchange fees?
Interchange fees vary by the card used (example: VISA Infinite, VISA Business, Mastercard World Elite) and vary by payment method (example: card present, card not present, eCommerce, recurring billing). And some sectors, like grocery, restaurants, beauty, education and non-profit, have access to lower Interchange rates than others based on lower risk of fraud and chargebacks.
Interchange rates currently range all the way from 0.87% up to 2.45% depending on the exact card used and method of payment.
Current VISA Interchange Fees I Current Mastercard Interchange Fees
What are Assessment fees?
Assessments or card brand fees are what VISA, MC, Amex and others charge on the transaction. Domestic transactions will cost you between 0.08% and 0.13% in assessments depending on the card brand, while foreign transactions are around 0.60%. If you want to deposit US sales into a US funds account, those assessments are upwards of 1.00%.
Changes to Interchange and Assessment fees.
Interchange and Assessment fees are often tweaked twice a year by the card brands. Sometimes these changes are reductions, and sometimes they are increases. The current trend is for significant reductions to card present transactions, and increases to some card-not-present transactions. Your processor will always provide 90 days notice of upcoming Interchange and Assessment fee changes, and that notice triggers a 90-day free cancellation window for all merchants as per our Code of Conduct.
“Can’t you just give me a flat rate like Square?”
Yes, if you’d prefer a flat rate, we can provide that with some of our payment partners. But, we warn you, the Cost Plus offer is always much better for you!